Shares of Everybody’s Phone Company (PINK: EVPH), a seller of prepaid, unlimited local telephone service to the residential market, primarily in greater Houston, are surging in trading today after the company said that it is now offering $8 billion federally-funded program to its customers.
At last check, EVPH shares were trading 50% higher at $0.0018 on above average volume of 16.04 million.
EVPH said that it entered into an agreement with local telephone companies AT&T and Verizon, and through this agreement, the company is offering two federally-funded programs. The programs are called the Lifeline Assistance and Link-Up America, and are part of the Universal Service Fund. The fund distributed over $8 billion in 2010 toward helping qualified low income consumers pay for basic telephone service through discounts and subsidies.
Commenting on the development, Norman George, President of Everybody’s Phone Company, said that EVPH is very pleased to begin extending its services to those most in need.
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